Standard Life Investments has been named as a global partner to The Ryder Cup.

The agreement covering the next two Ryder Cup competitions marks the first time the competition has partnered with a company on both sides of the Atlantic.

The value of the contract between Standard Life Investments, Ryder Cup Europe and the PGA (Professional Golfers' Association) of America has not been disclosed.

However, Standard Life said the cost of the agreement would be met from the current marketing budget though a spokesperson refused to disclose the size of the overall marketing budget.

The spokesperson added Standard Life has not increased the current marketing budget to meet the costs of the Ryder Cup agreement.

Standard Life said the “ground-breaking agreement” will enable it to promote and market its association with The Ryder Cup on a “truly global scale”.

The agreement will see Standard Life partner the Ryder Cup for the 2014 competition being held at Gleneagles and then for the 2016 competition at the Hazeltine National Golf Club in Chaska, Minnesota.

Standard Life said the potential daily TV audience of 500 million people across 183 countries makes The Ryder Cup “one of the sport’s most valuable and prestigious global brands”.

Keith Skeoch, chief executive of Standard Life Investments, said: "Standard Life Investments is thrilled to become the first worldwide partner of The Ryder Cup.

“This sponsorship complements our reputation as a leading global asset manager with strong performance and a distinctive team culture.

“It is an integral part of our long-term brand building strategy and is a perfect match in terms of our heritage, client base and strong team ethos.”

Richard Hills, Europe’s Ryder Cup director, added: “As a company, with a strong global reach and Scottish heritage, Standard Life Investments share our commitment to teamwork and helping people achieve their full potential.

“We look forward to working closely with the Standard Life Investments team in delivering a world class Ryder Cup at The Gleneagles Hotel; a Ryder Cup that will create a positive and long lasting legacy for the game in the ‘Home of Golf’.”